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View Diary: Healthcare.gov finally worked!! (96 comments)

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  •  Feel free to interpret ... (6+ / 0-)
    Recommended by:
    rennert, mjbleo, TofG, elwior, kefauver, aitchdee

    You can the ambiguity to your advantage -- give them the information that gives you the best deal?

    •  Well, don't think (4+ / 0-)
      Recommended by:
      Lujane, mjbleo, Larsstephens, aitchdee

      the thought didn't cross my mind. :)

      But then I didn't want to have a problem with taxes in 2015.

      Am I being too cautious? (She asked hopefully).

      •  Cautiousness (1+ / 0-)
        Recommended by:
        aitchdee

        Deliberate fraud in understating your income could get you put in jail.

        But, especially for 2014, they're likely to take any income you state. They check against previous tax returns (2012 being the most recent) and Experian for current wage income before they approve your subsidy, but I don't think they're being too strict at the moment.

        It's to your advantage to state your income at the low-end of what you think it will be. This may increase your "cost sharing" (reductions in deductable, copays, and total out-of-pocket costs) that are established when you choose your policy and can't be taken away.

        If you realize during the year that your income will be higher you need to report that and your subsidy may be reduced, but not your cost sharing.

        When you file your 2014 return if your income is higher than you stated you will be required to pay back some or all (depending on income level) of the excess subsidy you received based on lower-than-actual income.

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